论文部分内容阅读
股票回购可以改善公司资本结构,向市场传递经营改善的信号从而刺激股价提升,当避税效用显著时,股票回购可能成为现金股利较为有效的替代方式,股票回购在我国具备可行的法律环境和政策环境。
Stock repurchase can improve the capital structure of the company and transmit the signal of business improvement to the market so as to stimulate the stock price increase. When the tax avoidance effect is significant, stock repurchase may become a more effective alternative to cash dividend. The stock repurchase in our country has a viable legal environment And policy environment.